Vir Biotechnology’s (VIR) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Vir Biotechnology (NASDAQ:VIR) in a report released on Friday,Benzinga reports. HC Wainwright currently has a $110.00 price target on the stock. HC Wainwright also issued estimates for Vir Biotechnology’s FY2029 earnings at $2.25 EPS.

Several other research firms have also recently issued reports on VIR. Morgan Stanley upgraded Vir Biotechnology from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $20.00 in a report on Thursday, January 9th. Barclays lowered their price target on Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Leerink Partners increased their price objective on Vir Biotechnology from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their target price on shares of Vir Biotechnology from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Vir Biotechnology in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Vir Biotechnology Trading Up 0.9 %

Shares of NASDAQ:VIR opened at $10.40 on Friday. The business’s 50 day moving average price is $8.81 and its 200-day moving average price is $8.52. Vir Biotechnology has a 1 year low of $6.56 and a 1 year high of $14.45.

Vir Biotechnology (NASDAQ:VIR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.51). The company had revenue of $2.38 million for the quarter, compared to analysts’ expectations of $5.54 million. Vir Biotechnology had a negative net margin of 678.40% and a negative return on equity of 36.71%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($1.22) earnings per share. Research analysts predict that Vir Biotechnology will post -3.92 EPS for the current year.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 10,960 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $12.52, for a total value of $137,219.20. Following the completion of the sale, the director now owns 1,312,391 shares of the company’s stock, valued at $16,431,135.32. This represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 13,383 shares of company stock valued at $160,070 in the last three months. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VIR. Dimensional Fund Advisors LP lifted its position in Vir Biotechnology by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock valued at $5,673,000 after buying an additional 58,360 shares during the last quarter. Millennium Management LLC raised its stake in shares of Vir Biotechnology by 94.6% in the 2nd quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock valued at $11,108,000 after acquiring an additional 606,804 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Vir Biotechnology by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,987 shares of the company’s stock worth $436,000 after acquiring an additional 3,605 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Vir Biotechnology during the 2nd quarter worth approximately $135,000. Finally, Algert Global LLC acquired a new stake in Vir Biotechnology in the 2nd quarter valued at approximately $1,485,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).